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We've all got wiser and more realistic through the crisis

14 October 15 | Nikos Karamouzis
Nikos Karamouzis

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Greece needs three fundamental changes to ensure the restart of economic activity in the country, a gradual reduction of tax rates and a restructuring of the tax system, creating a business-friendly environment to boost investments and restructuring civil administration and institutions, Nikos Karamouzis, Eurobank's chairman said on Wednesday.

 

Addressing a Global Annual Conference of Grant Thornton International -held for the first time in Greece- Karamouzis said these three changes will determine the success of an effort to bring the Greek economy back to sustainable growth.

"Through this crisis, I think we all have become wiser, more realistic, we have learned from our mistakes and found the power to heal the deep wounds of the past," Karamouzis said, noting that the big challenge for the country was restarting the economy.

"We want strong growth prospects, hope and jobs for the new generation to prevail, drafting a new national strategy of big reforms, development, competitive and open economy within the Eurozone, restoring social cohesion on a solid basis," the Greek banker said, adding that "following the hardships we all have suffered and particularly workers in the last five years, with experimentation, denying to face reality and a trend to seek for easy solutions, feeding uncertainty, insecurity and risks with huge economic and social costs, undermining the country's productive base and moving in conflict with our European partners, it is time we turn a page towards better days.

The worse is behind us," Karamouzis said. He noted that the September election result offered a final response to a dilemma euro or drachma, cooperation, common course or collision with our European partners. "Returning to growth is the only safe response to the challenges of high unemployment, fair social policy, high public debt, over-taxation and high fiscal deficits," he said.

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